Craig Newman, ex-sales director at Invesco Perpetual, has moved Oakley Capital to work alongside fund manager Neil Woodford.
Woodford (pictured) - who is leaving Invesco next April - will use Oakley's infrastructure to support his new venture, details of which are still under wraps.
The manager will join Oakley Capital on 1 May 2014 and manage both retail and institutional client money.
Newman, who spent more than a decade working alongside Woodford, has already joined as head of retail asset management in order to get preparations underway for the new venture.
Speaking to Investment Week, Newman said Oakley intends to establish itself in the retail space.
"Oakley's intention is to set up a retail asset management business, and that is my brief," he said.
Though the exact nature of Woodford's new strategy remain unclear, commentators have speculated he may seek to focus on the smaller companies that have become a feature of his Invesco Perpetual Income and High Income portfolios in recent years.
However, given the unrelenting demand for income strategies - and for Woodford's expertise in this field - a focus on some form of equity income product would appear to be the most likely offering.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected